State Health Plan Aims to Help Members Lower Prescription Drug Costs
North Carolina State Treasurer Dale R. Folwell, CPA, announced today that beginning Jan. 1, 2024, some State Health Plan (Plan) members will enjoy lower prescription drug costs at the pharmacy. The Plan will be partnering with its Pharmacy Benefit Manager, CVS Caremark, and GoodRx to provide a free mobile application that helps consumers find the lowest prescription prices.
“I’m thrilled that we have the opportunity to partner with CVS Caremark and GoodRx to further lower prescription drug costs for a portion of our Plan members,” Treasurer Folwell said. “This is in line with our ongoing efforts to seek ways to make health care more affordable for those that teach, protect and otherwise serve North Carolina.”
Approximately 95% of the top 100 non-specialty generic drugs available on the Plan’s formulary (drug list) already cost less for members than the GoodRx price, but this program would target the 5% of prescriptions that may cost more. The program compares the member’s cost under the Plan’s benefit versus the available price at the point of sale for certain covered generics.
Members do not have to download anything or take any action to enroll in this program. If the price for the medication is lower, members will be automatically provided with the lower price at their pharmacy.
Plan members are currently going through Open Enrollment (Oct. 9-27) for the 2024 benefit year that begins Jan. 1, 2024. The Plan’s third-party administrator continues to be Blue Cross and Blue Shield of North Carolina until Dec. 31, 2024, at which time services will be transitioned to Aetna on Jan. 1, 2025.
The State Health Plan, a division of the Department of State Treasurer, provides health care coverage to more than 740,000 teachers, state employees, retirees, current and former lawmakers, state university and community college personnel, and their dependents.